Russia’s Largest Bank Announces Compatibility With Ethereum, Integrates MetaMask
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The largest bank in Russia, Sber, has announced that its proprietary blockchain platform will be compatible with Ethereum.
In a press release, the bank, whose majority shareholder is the Russian government with a “50% + 1 share” option, announced the new capabilities for its proprietary open blockchain platform.
The announcement was made during the first international meeting of blockchain industry participants for businesses. The organizer of the event was Sber Blockchain Laboratory.
As the announcement states, the Sber platform will be technologically compatible with the world’s largest decentralized financial ecosystem, Ethereum.
This means that developers will be able to freely transfer smart contracts and entire projects between the bank’s blockchain network and Ethereum.
Sber’s blockchain platform will also integrate with ConsenSys’ MetaMask wallet, which has recently come under fire for IP tracking. Users and developers will be able to issue their own tokens and create smart contracts.
In addition, integration with the bank’s information systems will allow payments in smart contracts to be made in rubles.
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“The Sberbank blockchain laboratory works closely with external developers and partner companies, and I am glad that our community will be able to run DeFi applications on Sber’s infrastructure,” said Alexander Nam.
The director of the Sberbank Blockchain Laboratory expressed optimism that “given the rapid development of Web3, platforms supporting various blockchain protocols will be in increasing demand.”
And Sber will be able to bring together developers, enterprises and financial institutions in both joint market research and development of practical business applications, the announcement said.
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